Vatican Bank "Closed Circle" in Oap Bust

June 10, 2015

Rome, June 10 - Information provided by the Institute for Religious Works (IOR), the Vatican bank, allowed investigators to "close the circle" in their probe of the 500 million euro fraudulent bankruptcy of the Divine Providence nursing homes chain, judicial sources said Wednesday.

Replies supplied by the Holy See bankers allowed investigators in Puglia to undertake "a more pregnant technical examination" of financial flows through bank account data in which assets of the Congregation of Divine Providence had been hidden, the sources said.

Meanwhile it was disclosed that a Socialist MP, Raffaele Di Gioia, also is among those under investigation in the probe in addition to an NCD Senator and two nuns.

Finance police confiscated 32 million euros and a building that the nuns were planning to turn into a private clinic in Guidonia in Rome province.

The money and the building were held in the names of parallel church orders run by nuns from the Divine Providence congregation.

As much as 350 million euros of the total debts of half a billion euros run up by the congregation were debts to the Italian state.

The order also had a secret bank account in which donations from the faithful were stashed.

Part of the money was used to finance a campaign for the beatification by the Church of the founder of the order, Don Uva, the sources said.








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